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. let's check in on first-wordnews.taylorriggshasmore from newyork.taylorriggs: cataloniavotedtao form their own country. meanwhile, the spanish senate has given prime minister mariano rajoy the authority to oust the catalan administration. rajoy is saying he will not allow anyone to abuse the constitution, and that the catalan vote was a critical -- criminal act. the u.s. economy grew faster than forecast in the third. -- quarter. that comes after a 3.1% growth rate in the second quarter. together, they're the best back to backorder since 2014. consumer spending was stronger than expected. meanwhile, the government says it cannot estimate the two hurricane's impact on gdp. president trump is leaning toward naming jerome powell to be the next chairman of the fed according to people familiar with the matter. is it decision is not yet final, and the president could change -- they say the decision is not yet final and the president could change his mind at any time. he is considered one of the front-runners. global news 24 hours a day, powered by more than 2700 journalists and analys

. let's check in on first-word news. taylor riggs has more from new york. taylor riggs: catalonia votedtao form their own country. meanwhile, the spanish senate has given prime minister mariano rajoy the authority to oust the catalan administration. rajoy is saying he will not allow anyone to abuse the constitution, and that the catalan vote was a critical -- criminal act. the u.s. economy grew faster than forecast in the third. -- quarter. that comes after a 3.1% growth rate in the second...

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taylorriggs. taylor: thenobel prize for economics award to richard taylor. he was awarded for his understanding of how humans make decisions. as a result, the committee says they said that richard made economics more human. that thes discovered russians placed ads. they placed -- they figured out that as were placed on google search and gmail. spain is warning that they will take action of catalonia declares independence. the president said spain will not be divided and authorities will do anything to do to prevent it. fable address the regional -- the president will address this tomorrow. would want to reassert her authority. senior conservative officials will have to deal with four chanson. he has anchored colleagues. global news 24 hours a day by journalists and analysts. mark: thank you. coming up, a special talkingtion regulations, risks, and much, much more. don't miss it. this is bloomberg. ♪ ♪ vonnie: live from new york and london, i'm vonnie quinn. mark: and i'm mark barton. this is "bloomberg markets." time for futures in focus. oiltical risk countering trading, $50

taylor riggs. taylor: the nobel prize for economics award to richard taylor. he was awarded for his understanding of how humans make decisions. as a result, the committee says they said that richard made economics more human. that thes discovered russians placed ads. they placed -- they figured out that as were placed on google search and gmail. spain is warning that they will take action of catalonia declares independence. the president said spain will not be divided and authorities will do...

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check in on the "first word" news. hereistaylorriggs. trump'spresidentnomination for drugs are has withdrawn his nomination. there were reports that he made it harder to fight the opioid crisis. ramping few latest round of nafta talks with a bombshell proposal, this is the administration wants to eliminate tariffs on supply manage contacts. candidate uses the system of tariffs and quotas for dairy products that they say guarantee stable pricing and production. canada has dismissed the proposal and we will have more on this at the bottom of the hour. despite a plea from president trump, former white house strategist steve bannon will not abandon his war against republican congressional incumbents. people keep asking insurgent candidates to pledge just mitch mcconnell. -- he will keep asking insurgent candidates to pledge to oust mitch mcconnell. qa has leftor raq thousands of civilians and fighters dead. much of the city is in ruins. global news 24 hours a day powered by more than 2600 journalists and analysts in over 120 countries. i am taylor riggs. this is bloomberg. vonnie:

check in on the "first word" news. here is taylor riggs. trump'spresident nomination for drugs are has withdrawn his nomination. there were reports that he made it harder to fight the opioid crisis. ramping few latest round of nafta talks with a bombshell proposal, this is the administration wants to eliminate tariffs on supply manage contacts. candidate uses the system of tariffs and quotas for dairy products that they say guarantee stable pricing and production. canada has...

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discuss after the break. this is bloomberg. ♪ ♪--taylor: thisis bloomberg, iamtaylorriggs. procter& gamble posted a quarterly profit that was better than expected, sales slightly less than some estimates. they maintain the forecast for the whole year. sprint and t-mobile may do you announcement of an all stock merger. the wireless providers may wait until several weeks after they release quarterly earnings. that would push back an announcement to mid to late open up -- it to late november. an unpleasant start for ge ceo john flannery. the company slashed its profit forecast this year. this is one of the deepest slumps in ge history. they lost one quarter of their market value in 2017. that is your bloomberg business flash. alix: one of the big underperformers in the dow, getting hit very hard. what happened? : on the top line, the power business was much worse than expected. .argins fell 700 basis points i looked for restructuring, it was not in their. oil and gas was also bad. there was a little bit of restructuring but it was still down more than expected. organic growth was dow

discuss after the break. this is bloomberg. ♪ ♪ -- taylor: this is bloomberg, i am taylor riggs. procter & gamble posted a quarterly profit that was better than expected, sales slightly less than some estimates. they maintain the forecast for the whole year. sprint and t-mobile may do you announcement of an all stock merger. the wireless providers may wait until several weeks after they release quarterly earnings. that would push back an announcement to mid to late open up -- it to...

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in more than 120 countries around the world.i'mtaylorriggs. thisis bloomberg. tom: equities, bonds, currencies, commodities. ae euro advances, 1.1881, decidedly stronger euro over the last two days. 49.81.il, francine: this is what i am looking at overall. european stocks are slipping a little bit. they are not sure what to do about spain. we look at the dollar weakening a touch, treasuries nudging higher. what president trump does next with his tax reform, the overhaul effort, and they want to know more about his feud with the republican senator. tom: away from all that, let's do a chart where the president says, i was elected and things are better. and everybody says, yea, yeah, yeah. guess what? he's got a case. 1989s the ugly times, the recession, the 1992 recession. and of course, the great financial crisis. here's the election of president trump. we are up out two standard deviations. in businessig jump optimism of the 20 year trend of a decade ago. francine: tom, i really liked your chart. i did something a little different on the back of those outstanding lvmh figure

in more than 120 countries around the world. i'm taylor riggs. this is bloomberg. tom: equities, bonds, currencies, commodities. ae euro advances, 1.1881, decidedly stronger euro over the last two days. 49.81.il, francine: this is what i am looking at overall. european stocks are slipping a little bit. they are not sure what to do about spain. we look at the dollar weakening a touch, treasuries nudging higher. what president trump does next with his tax reform, the overhaul effort, and they...

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railroad business. with your friday breathing, hereistaylorriggs. taylor: startingin spain. the government is taking a less this effort. wants toresident convince supporters to accept regional elections -- regional elections. a senior official will ask the spanish government to suspend the process of seizing direct control of the region if there is a snap election. in japan, new data underscores the challenge facing the central bank cosi makers next week. inflation remains unchanged in september. prices rose from a year ago. the bank of japan is seeking 2% inflation. capitol hill, republicans promised to unveil their tax reform bill next week. approving a budget resolution but a stumbling block has reemerged whether to limit a federal tax break that benefits high-tech states such as california. one of the contenders to be the next fed chair is calling for reforms. stanford professor, john taylor, possible ifit is policymakers focus on the changes that encourage investments in hiring. he said there may be too much micromanaging of banks. global news, 24 hours a day, powered by 27

railroad business. with your friday breathing, here is taylor riggs. taylor: starting in spain. the government is taking a less this effort. wants toresident convince supporters to accept regional elections -- regional elections. a senior official will ask the spanish government to suspend the process of seizing direct control of the region if there is a snap election. in japan, new data underscores the challenge facing the central bank cosi makers next week. inflation remains unchanged in...

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bloomberg first word newswithtaylorriggs. taylor: weare starting with those tax cuts. congress is one step closer backed by president trump. house republican leaders have already signed off on. that clears the way for it without to pass the need for a democratic vote. rex tillerson is promising to stay on the job for as long as president trump wants him. he signals growing impatience with china on north korea and trade. chancellor has come to the aid of british prime minister theresa may at an eu summit. she called on both sides to move on to brexit talks so they can be a deal by the end of the year. may urged leaders to help her find a deal. vladimir putin hasn't said if he is running for reelection next year. in an address, he said all the makings of the campaign speech. putin recounted his country's humiliation after the fall of the soviet union and singled out he u.s. he pointed to himself as the man . global news, 24 hours a day, powered by 2700 journalists and analysts in more than 120 countries. i am taylor riggs. this is bloomberg. tom: a risk on data check. currencies and com

bloomberg first word news with taylor riggs. taylor: we are starting with those tax cuts. congress is one step closer backed by president trump. house republican leaders have already signed off on. that clears the way for it without to pass the need for a democratic vote. rex tillerson is promising to stay on the job for as long as president trump wants him. he signals growing impatience with china on north korea and trade. chancellor has come to the aid of british prime minister theresa may...

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taylorriggs. northkorea is threatening that nuclear war may break out at any moment. kim jong-un's regime issued a warning as u.s. and south korea begin one of their largest naval drills off of both coasts of the korean peninsula. a north korean diplomat claims the entire u.s. mainland is within reach of its missiles. theresa may's attempt to get brexit talks back on track yielded little. she flew to brussels for dinner with jean-claude anger. the u.k. wants negotiations to move on to trade and transition arrangements. from president trump former white house strategist steve bannon won't abandon his war against republican congressional incumbents. been and keep backing insurgent candidates who pledged to oust mitch mcconnell. truceesident's seeking a that could salvage plans to overhaul the tax system. global news 24 hours a day powered by more than 2700 journalists and analysts in over 120 countries. i'm taylor riggs. this is bloomberg. trump andsident senator mitch mcconnell had an impromptu news conference at the white house. it lasted 40 minutes and focused emphatically on tax

taylor riggs. north korea is threatening that nuclear war may break out at any moment. kim jong-un's regime issued a warning as u.s. and south korea begin one of their largest naval drills off of both coasts of the korean peninsula. a north korean diplomat claims the entire u.s. mainland is within reach of its missiles. theresa may's attempt to get brexit talks back on track yielded little. she flew to brussels for dinner with jean-claude anger. the u.k. wants negotiations to move on to trade...

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taylorriggs. thisis bloomberg. tom: i'm sure thatjohntaylorandthe president spoke about the open factor and the inertial force, as seen in the bloomberg calculation of the taylor rule. let me do a data check. equities, bonds, currencies and commodities. in my script for the 6:00 a.m., i talk about not a melt up, but a grind up. oil was a little bit of a list, $52 a barrel. vix.o show the excuse me, still fighting francine's plague. now a real test of 23,000. two year yield moves above 1.50 and gold, light as well. francine: i don't know if you noticed, but the last 10 minutes we have had a government reshuffle in south africa. in the meantime, i'm looking at spain and the hardlined response they had to the catalonia succession threat. the dollar has gained a lot with the expectation that the next federal reserve chair will be more hawkish. an activist investor is said to be targeting credit squeeze. - targeting credit suisse. ceo says he wants to break parts.der into three joining me on the phone is david herro. david, always great to speak to you on the phone. i know you've

taylor riggs. this is bloomberg. tom: i'm sure that john taylor and the president spoke about the open factor and the inertial force, as seen in the bloomberg calculation of the taylor rule. let me do a data check. equities, bonds, currencies and commodities. in my script for the 6:00 a.m., i talk about not a melt up, but a grind up. oil was a little bit of a list, $52 a barrel. vix.o show the excuse me, still fighting francine's plague. now a real test of 23,000. two year yield moves above...

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, hereistaylorriggs. taylor: startingin barcelona, hundreds of thousands of people jammed the streets in protest, saying that the -- as the prime minister has begun the process of reasserting control. whether test will be people will follow calls to resist spanish masters in catalonia. the united nations says iran is complying with the terms of the nuclear agreement. the head of the u.n. nuclear watchdog says all countries are abiding by their commitment. donald trump once the deal renegotiated. the first charges may be announced today in that investigation of russian involvement in last year's u.s. election. a grand jury associated with special counsel robert mueller's probe has approved the first indictment. trump called the investigation a witchhunt that is bad for the country. puerto rico plans to cancel a controversial $300 million contract to rebuild the island's tower grade. the contract went to a company in thesemetown -- small hometown of the energetic of thehe small hometown energy secretary's. currencieses, bonds, , a little bit of risk off. the euro down to 1.1636.

, here is taylor riggs. taylor: starting in barcelona, hundreds of thousands of people jammed the streets in protest, saying that the -- as the prime minister has begun the process of reasserting control. whether test will be people will follow calls to resist spanish masters in catalonia. the united nations says iran is complying with the terms of the nuclear agreement. the head of the u.n. nuclear watchdog says all countries are abiding by their commitment. donald trump once the deal...

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will go to erik schatzker in a bit. let's get to the first word newswithtaylorriggs. mostis one of the anticipated european central bank meetings since mario draghi became president as they meet today to discuss how and where it should end his large-scale bond buying program. monthlykers may cut asset purchases and stretch them out as long as possible while waiting for inflation to pick up. in the u.s., president trump says he is thinking about giving janet yellen another term as chair of the federal reserve and told fox he would like to put his own stamp on the fed but says janet yellen is terrific and says "we are doing very well together if you look at the markets you ars." almost certain opec and its allies will cut production next month as the saudi arabia crown prince mohammed bin salman says he wants the limits to stay in place has the current march 2018 expiration date. until now, saudi arabia officials have stopped short to making a commitment to prolonging the cuts. the european union working on a plan b in case there is no additions and brexit talks, eu countries will

will go to erik schatzker in a bit. let's get to the first word news with taylor riggs. most is one of the anticipated european central bank meetings since mario draghi became president as they meet today to discuss how and where it should end his large-scale bond buying program. monthlykers may cut asset purchases and stretch them out as long as possible while waiting for inflation to pick up. in the u.s., president trump says he is thinking about giving janet yellen another term as chair of...

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more than 120 countries.i'mtaylorriggs. thisis bloomberg. tom: thank you so much. equities, bonds, currencies, commodities. curve flattening, 86 basis points down to 78. euro weaker with yen stronger. second screen with vix showing the beauty of 9.9910. mexican peso is front and center. we will talk a lot about nafta this week, the future of nafta. you see it in weaker mexican peso. francine: i'm a little anxious about your voice more than what is happening in treasuries. advancing, gains in oil is what we are seeing. copper up. this is due to better-than-expected figures in china. the euro weakening, if you look at spanish stocks also down in touch after the catalonian leader defended the region's independence from spain. it is unclear if the region has declared independence or not. tom: my voice is gasping watching the dreaded new york yankees lose twice to the houston astros. we will show this chart a lot , 1987-1988. what is so important about the crash of 1987 is it is teach a course technical analysis. he got through this quickly. up we go to highs. there is this litt

more than 120 countries. i'm taylor riggs. this is bloomberg. tom: thank you so much. equities, bonds, currencies, commodities. curve flattening, 86 basis points down to 78. euro weaker with yen stronger. second screen with vix showing the beauty of 9.9910. mexican peso is front and center. we will talk a lot about nafta this week, the future of nafta. you see it in weaker mexican peso. francine: i'm a little anxious about your voice more than what is happening in treasuries. advancing, gains...

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report on that from stephanie baker.here'staylorriggs. reporter:starting in beijing, president xi jinping has laid out a roadmap for returning china to a leading power by the year 2050. called for state reform and tougher regulations. european union countries are keeping hope alive on a trade deal with the u.k. according to eu official, they are doing prep work so trade talks can begin as soon as they have decided that the u.k. has offered enough during brexit negotiations. the negotiations remain stalled u.s. senators from both parties have reached a deal to prop up obamacare. the agreement whaould potentially lower insurance premiums. last week, president trump said he was cutting off those subsidies. the deal still faces a number of opposition from republicans. a budget bite could result in a budget shutdown. they have drafted a spending bill, that includes $12 billion for the wall on the mexican border. global news 24 hours a day, powered by 2700 journalists and analysts in more than 120 countries around the world. i'm taylor riggs. this is bloomberg. tom: a big deal on the bu

report on that from stephanie baker. here's taylor riggs. reporter: starting in beijing, president xi jinping has laid out a roadmap for returning china to a leading power by the year 2050. called for state reform and tougher regulations. european union countries are keeping hope alive on a trade deal with the u.k. according to eu official, they are doing prep work so trade talks can begin as soon as they have decided that the u.k. has offered enough during brexit negotiations. the...

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bring that up with madame lagarde this moment. francine: hereistaylorriggs. inspain, time is running out for the president of catalonia. the prime minister has given him until monday morning to clarify if he has declared independence. if he is found to be in violation of the law, he will be given three days to back down. then he can start the process of removing the catalan government from office. round of brexit negotiations in brussels. progress has been so limited the european side is stepping back from concessions it was considering last month. the financial settlement is a stumbling block. some brexit supporters say that walking out of the talks should be an option. the death toll is rising from the wildfires in northern california's wine country. 23 people are dead, 100 80 injured, hundreds reported missing. the fires destroyed 3500 homes and businesses. 8500 firefighters are on the job . president trump promising his money forould save american families. the president spoke to truck drivers in harrisburg. it is part of his campaign against criticism that their proposal

bring that up with madame lagarde this moment. francine: here is taylor riggs. in spain, time is running out for the president of catalonia. the prime minister has given him until monday morning to clarify if he has declared independence. if he is found to be in violation of the law, he will be given three days to back down. then he can start the process of removing the catalan government from office. round of brexit negotiations in brussels. progress has been so limited the european side is...

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around the world.i'mtaylorriggs. thisis bloomberg. tom: a data check. curb flattening is what i really sisiced on a 78 ba point move. the next screen, i am bored. on to the vix and equity markets. brent crude, elevated. that is european oil over $61. a weaker accident peso, that b ears steady through the week. nejra: tom, we have got something in common. i'm showing brent crude holding above $60 a barrel. wti is on track for its second monthly gain since 2017. oil and gas stocks are outperforming. by 10%.-dollar, off there we go. the 10 year yield on the gilts, its lowest in a week, tom. tom: i want to show you the spirit of america. this is the confidence numbers. up we go. then there's a sharp decline from the peak of march in 2000. notice where we are right now is above 2006, but we are not quite back to where we were in march of 2000. there's the lehman low. that paints a very nice picture of the confidence of an employed in prosperous, maybe one of the eeericas of the two or thr out there. nejra: we got economic confidence data for the eurozone yesterday as well in that is

around the world. i'm taylor riggs. this is bloomberg. tom: a data check. curb flattening is what i really sisiced on a 78 ba point move. the next screen, i am bored. on to the vix and equity markets. brent crude, elevated. that is european oil over $61. a weaker accident peso, that b ears steady through the week. nejra: tom, we have got something in common. i'm showing brent crude holding above $60 a barrel. wti is on track for its second monthly gain since 2017. oil and gas stocks are...

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riggs. thisisbloomberg.tom:taylor, thanksso much. an historic moment for japan. you can do no better than to speak to robert feldman of morgan stanley. his decades of experience out of m.i.t. in japan, he is not a japan watcher. he is absolutely part of the fabric of commentary and analysis across all of political and economic japan. he joins us from our studios in tokyo. wonderful to have you with us. tell me, who is mr. abe? what kind of politician is he? is he someone we can compare to an american politician? robert: i think mr. abe is a politician who makes a habit of getting along with people, working out compromises, getting people in a room together, something the way, ideal american politicians worked 20 or 30 years ago. he's been extremely effective in getting along with the u.s. he was good friends with president obama. he's good friends with trump. this is an asset to japan since the u.s.-japan relationship is so important. i think the prime minister deserves a great deal of credit for that. tom: i believe i give you credit for giving me the classic book coming out

riggs. this is bloomberg. tom: taylor, thanks so much. an historic moment for japan. you can do no better than to speak to robert feldman of morgan stanley. his decades of experience out of m.i.t. in japan, he is not a japan watcher. he is absolutely part of the fabric of commentary and analysis across all of political and economic japan. he joins us from our studios in tokyo. wonderful to have you with us. tell me, who is mr. abe? what kind of politician is he? is he someone we can compare to...

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clear the way for a $66 billion acquisition of monsanto. joining us withmauricetaylorriggs. taylor: thecompany acquiring those assets, the shares were higher a little bit on their now seeing a decline as the company is have to shell out about 6 billion euro for those assets. it will help clear the way to get this year done. , theiru look at bayer share prices done pretty well since they announced the purchase. analysts coming up this morning saying this deal was good for them. not just for basf and not a surprise is a lot of divestments were expected in order to be able to get that deal done. the: tell us more about crop science building -- business they are obtaining. taylor: it's the biggest acquisition ever for basf in the herbicide business. that segment when it was a part of bayer generated $1.3 billion in revenue, going down the income statement, about 385 million euro -- i should be saying euros. vonnie: it's becoming this anything. -- it's becoming the same thing. taylor: they are looking at that in the first quarter of 2018. that company's last opportunity to enter the se

clear the way for a $66 billion acquisition of monsanto. joining us with maurice taylor riggs. taylor: the company acquiring those assets, the shares were higher a little bit on their now seeing a decline as the company is have to shell out about 6 billion euro for those assets. it will help clear the way to get this year done. , theiru look at bayer share prices done pretty well since they announced the purchase. analysts coming up this morning saying this deal was good for them. not just for...

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analysts in more than 120 countries around the world.i'mtaylorriggs. thisis bloomberg. tom: thank you. equities, bonds, currencies, commodities. interesting moves in the market with gold going down to a new low. futures off a littl ebe bit, but what a surge at the opening. 11.23,reen, the vix, that's an oddity of a vix. 23,442 on the dow. gold moments ago, breaking down. in retreatafe havens this morning. francine: stocks in europe and asia are moving sideways. we get some company results, but they are failing to inspire the investor enthusiasm we saw in the u.s. major currencies are in a holding pattern. tomorrow is ecb, and today the pound advancing on accelerating u.k. growth. the bond market might have hit the break or make moment. prompted the ceo to take to twitter and he said the moment of truth has arrived. we need to start rallying immediately, or obituaries need to be written. we are joined by hans. hans, we don't want to write obituaries. [laughter] francine: it depends. guess i have seen what has happened to the central bank of new zealand. they got an increased mandat

analysts in more than 120 countries around the world. i'm taylor riggs. this is bloomberg. tom: thank you. equities, bonds, currencies, commodities. interesting moves in the market with gold going down to a new low. futures off a littl ebe bit, but what a surge at the opening. 11.23,reen, the vix, that's an oddity of a vix. 23,442 on the dow. gold moments ago, breaking down. in retreatafe havens this morning. francine: stocks in europe and asia are moving sideways. we get some company results,...

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, powered by more than 2700 journalists and analysts in more than 120 countries. iamtaylorriggs. thisis bloomberg. david: thank you so much. we thought tax reform would be difficult before president trump decided to take on tennessee senator bob corker. there was a war of words yesterday, almost two months to go through. this is an influential chairman in the senate. this could affect tax form, kevin cirilli. there is too much to go through. i want to read one from the present, bob corker gave us the iran deal, and that is about it. we need tax reform and people that can get the job done. does the president think he can get it done without bob corker? think that, but the reality is he needs people like bob corker because the math in the senate is too tight. they were back and forth all weekend. i could barely keep up. that has severe implications for the presidents ability to get things done like tax reform. bob corker is signaling he is not necessarily going to fall in line behind the administration. we saw the same type of issue on health care with people like senator rand paul, mi

, powered by more than 2700 journalists and analysts in more than 120 countries. i am taylor riggs. this is bloomberg. david: thank you so much. we thought tax reform would be difficult before president trump decided to take on tennessee senator bob corker. there was a war of words yesterday, almost two months to go through. this is an influential chairman in the senate. this could affect tax form, kevin cirilli. there is too much to go through. i want to read one from the present, bob corker...

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, powered by more than 2700 journalists and analysts in more than 120 countries.i'mtaylorriggs. thisis bloomberg. david? david: thank you. our london colic has been reporting for months on the lobbying business of paul manafort, the former campaign chair for donald trump indicted yesterday in washington. we welcome stephanie back to explain what the indictment tells us about what robert mueller and where he is heading with the investigation. if you look at the plea agreement, what do you make of this? >> it is hard to not see the two of them as linked. punch a sort of 1-2 yesterday, revealing the indictment againstpaul manafort and gates, which seems like a straightforward case. they have payments that came from offshore companies in cyprus controlled by manafort and gates, from their work in ukraine and elsewhere, using that to pay for home renovations, land rovers, antique rugs, as a way of not paying taxes and concealing the sources of the funds. a couple hours later he landed with the george papadopoulos indictment and with the bombshell that he had been a proactive cooperator on t

, powered by more than 2700 journalists and analysts in more than 120 countries. i'm taylor riggs. this is bloomberg. david? david: thank you. our london colic has been reporting for months on the lobbying business of paul manafort, the former campaign chair for donald trump indicted yesterday in washington. we welcome stephanie back to explain what the indictment tells us about what robert mueller and where he is heading with the investigation. if you look at the plea agreement, what do you...

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call for negotiations. day, i ams 24 hoursataylorriggs. messypolitics in spain will be the backdrop for the meeting. the theme is lower the amount and extend the bond buying program. from london, i want to get your take from the unrest we have seen from spain. does it influence the ecb at all? at the moment, it will not be a key focus for the ecb. the key focus will be on the economy and inflation and how they will pan out this tapering plan. between sizebate of tapering and the timeframe over which they will continue the next stage of quantitative easing. all things will be in the air. the markets will listen closely. jon: let's start with mario draghi and how he will navigate in the news conference. >> it is a local issue. if you look at spanish bond will look to that. if there is no disruption in markets, he will put that issue to one side. issue, thebecome an will get more interesting. it is remarkable how quiet the market has been about this issue. >> how important is it they signal there will not be a rate hike until 2019 and how does it affect how long extension goes

call for negotiations. day, i ams 24 hours a taylor riggs. messy politics in spain will be the backdrop for the meeting. the theme is lower the amount and extend the bond buying program. from london, i want to get your take from the unrest we have seen from spain. does it influence the ecb at all? at the moment, it will not be a key focus for the ecb. the key focus will be on the economy and inflation and how they will pan out this tapering plan. between sizebate of tapering and the timeframe...

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wanting them. joining us with moreistaylorriggswiththe worst performing stock in s&p on this report. taylor: it's last biggest october 25, 2016. and it's lowest price of all 2017 since last december. earnings having a lot of different struggles. they missed on the third-quarter earnings. they missed on their forecast guidance going forward. ending the relationship with sears due to pressing problems. all of this waiting on the company. we talked about pressing problems and i want to look at margins. they mentioned that they are struggling together costs under control. 417.v we looked at ron material costs really being pressured and you can see the divergence here between the share price and the gross margins. unless you make this up by volume, does not do a lot to sales. when you're struggling on the margin front, so to get back on track, they announced that they are trying to reduce expenses by $150 million. kind of doing what they can to turn things around. julie: we have seen aluminum prices go higher, which i mentioned is a problem for them. on the flip side, there ending

wanting them. joining us with more is taylor riggs with the worst performing stock in s&p on this report. taylor: it's last biggest october 25, 2016. and it's lowest price of all 2017 since last december. earnings having a lot of different struggles. they missed on the third-quarter earnings. they missed on their forecast guidance going forward. ending the relationship with sears due to pressing problems. all of this waiting on the company. we talked about pressing problems and i want to...

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a sale of their animal health business. joining us with both sides of thestory,taylorriggs. whatis really interesting as investors were initially excited about this because it is exactly what pfizer did with their animal business in 2013. the ceo saying he is looking at may 2018 to update investors on what this could be, a spinoff or an ipo. >> now that we have put that together is a globally competitive industry it is time to look at the best options going forward. we will take eight months or so ahead and get back to investors in mid-2018 with our conclusions. health the animal business makes up about 13% revenue for the overall company. quarter, year over year at about $741 million in sales. the ceo saying it is a core piece for their overall company even though they are growing in other areas. that was the good news for today. julie: animal health is about 13% of the revenue. there is a single drug that provides another 13% or so of revenue, the insulin drug. diabetes pricing pressures continue. people are not too happy about that. taylor: and that took the stock lower. you

a sale of their animal health business. joining us with both sides of the story, taylor riggs. what is really interesting as investors were initially excited about this because it is exactly what pfizer did with their animal business in 2013. the ceo saying he is looking at may 2018 to update investors on what this could be, a spinoff or an ipo. >> now that we have put that together is a globally competitive industry it is time to look at the best options going forward. we will take...

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for its key hepatitis c drug. joining us nowwithtaylorriggs. loweringthat profit forecast in sales for the fiscal year 2018. now expecting the hepatitis c sales to come in at around $4.8 billion down from estimates of $5.5 million to $6 billion. this is what's driving the short-term movement of the stocks. long-term analysts have a few things in mind. rbc's brian abraham so shares will fall as sales line declines, but then look to see if there is some stabilization in that drug industry. this will spark volatility, but wait and see what happens. a key thing that analysts are looking at the first half of 2018 is the integration of a newly acquired therapy drug. when that comes into play, that certainly could help and it's a key diversification play for gilead. vonnie: a rough two weeks in the biotech sector more generally. taylor: some of the key movers we are looking at and the nasdaq biotech index, gilead is the worst performer today. celgene the second worst performer after yesterday. it said cut long-term net product sales in 2020 and cut its long-term earnings per share f

for its key hepatitis c drug. joining us now with taylor riggs. lowering that profit forecast in sales for the fiscal year 2018. now expecting the hepatitis c sales to come in at around $4.8 billion down from estimates of $5.5 million to $6 billion. this is what's driving the short-term movement of the stocks. long-term analysts have a few things in mind. rbc's brian abraham so shares will fall as sales line declines, but then look to see if there is some stabilization in that drug industry....

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this big tech rally today, let's check on themarkets.taylorriggsishere with the latest. like we areel speaking about record highs. that continues today. the doubt nearing record the s&p 500 inte record territory. and the nasdaq, like you said, it's all about tech today. it's up more than 2%. it's driven by a slew of tech earnings that we got yesterday including amazon and microsoft. 100 andsee the nasdaq you can see how the momentum is continuing as we get through the rest of the day. we are also looking at companies like apple, google, and facebook which are the major gainers in this index. looking into apple, we are awaiting the earnings next week in the release of the iphone friday, apple said don't worry, the demand for the iphone 10 is off the charts. there were concerns of the production of the phone and that has been squashed for now. let's put this into perspective. you can see the nasdaq 100 index and its outperformance relative to the s&p 500. the spread really rising up. the relative outperformance is at its highest since 2009. it shows you the momentum we are experie

this big tech rally today, let's check on the markets. taylor riggs is here with the latest. like we areel speaking about record highs. that continues today. the doubt nearing record the s&p 500 inte record territory. and the nasdaq, like you said, it's all about tech today. it's up more than 2%. it's driven by a slew of tech earnings that we got yesterday including amazon and microsoft. 100 andsee the nasdaq you can see how the momentum is continuing as we get through the rest of the day....

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by more than 2700 journalists and analysts in more than 120 countries. iamtaylorriggs. thisis bloomberg. tom: great to have you back. equities, bonds, currencies, commodities now. it is a mix post jobs report. the euro advance. oil under $50 a barrel. at 9.95. the dow, friday close, that is an extraordinary close. we will get to the turkish lira in a moment. korean won, the news is it does not move. we will talk about senator corker and the president over the weekend battling. the markets don't show the rhetoric we saw over the weekend. let's bring in the bloomberg. excuse me, francine, i am sorry. oh mon dieu. francine: it is like you are away for a weekend, and you forget about me. first of all, european stocks are being led by equities in spain. there was a funny weekend in spain of massive demonstrations in favor of spanish unity. british prime minister theresa may now seems poised to reassert her leadership. we will have a look at what happened with the turkish lira because of that diplomatic spat. low from thee basket of currencies. saw over the we weekend in the trading

by more than 2700 journalists and analysts in more than 120 countries. i am taylor riggs. this is bloomberg. tom: great to have you back. equities, bonds, currencies, commodities now. it is a mix post jobs report. the euro advance. oil under $50 a barrel. at 9.95. the dow, friday close, that is an extraordinary close. we will get to the turkish lira in a moment. korean won, the news is it does not move. we will talk about senator corker and the president over the weekend battling. the markets...

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journalists and analysts in more than 120 countries around the world.i'mtaylorriggs. thisis bloomberg. tom: fair to good. let's do equities, bonds, currencies commodities. francine. he let a stronger euo. -- francine was talking about a stronger euro. francine: yes, the euro is holding on to a lot of games, spurred by catalonia's pullback. areough a lot of people saying this will just be postponed. we will see madrid's reaction, whether they want to talk or not. the dollar seems to be drifting and we're waiting on fomc meetings. oil rises above $51 a barrel. tom: let me do another optimistic chart. fnib survey. this is not political. this is michael mckee's favorite chart. here is the enthusiasm of job openings in 2007, before the crisis. i'm having trouble here with my football thing today there we go. we have recovered 27% above the joy of 2007. francine, a lot of people don't know that. there are a lot of openings out there. francine: that is actually, a very good point, and something investors need to keep an eye on in seeing why that does not mean there is more inflation when it comes

journalists and analysts in more than 120 countries around the world. i'm taylor riggs. this is bloomberg. tom: fair to good. let's do equities, bonds, currencies commodities. francine. he let a stronger euo. -- francine was talking about a stronger euro. francine: yes, the euro is holding on to a lot of games, spurred by catalonia's pullback. areough a lot of people saying this will just be postponed. we will see madrid's reaction, whether they want to talk or not. the dollar seems to be...

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story, let's get some headlines out of the business world now.here'staylorriggs. taylor: catalonia'sgovernment being suspended. claimed -- refused to drop claims. leader hasent -- called a special session for saturday. his advisers are a measure he plans to take. a benefit us in deal to prop up obamacare has stalled. president trump sent a big signals, until his press secretary declared the administration is opposed. congressional leaders are against it. this would restore subsidies to health insurers, and give states more flexibility. china's economy topped up the momentum in the third quarter. 6.8% from a year ago. retail sales were up more than 10% come and factory output was strong. all of this is xi jinping a stronger hand to rein in industrial capacity, curb pollution, and have more sustainable -- a more sustainable growth path. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. i'm taylor riggs, this is bloomberg. of chinaent xi jinping -- is consolidating his power even more in beijing. we welcome george magnus, and econ

story, let's get some headlines out of the business world now. here's taylor riggs. taylor: catalonia's government being suspended. claimed -- refused to drop claims. leader hasent -- called a special session for saturday. his advisers are a measure he plans to take. a benefit us in deal to prop up obamacare has stalled. president trump sent a big signals, until his press secretary declared the administration is opposed. congressional leaders are against it. this would restore subsidies to...

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worldwithtaylorriggs. taylor: presidenttrump is expected to not abandoned the iran nuclear deal. the president will refuse to certify that the courts officially serve u.s. interests. he is expected to ask congress to amend the law. the president said it is time for the entire world in demanding that iran world and its pursuit into and destruction. the most drastic steps yet are taken to end obamacare. president trump has cut out subsidies to help lower income people after he signed an executive order designed to drive people away from health care coverage markets. the administration is cutting tens and thousands of dollars from groups to help people enroll in obamacare. week ofe deadliest fires in california history. at least 31 people have been killed. hundreds of people are still missing. in the city of santa rosa, almost 3000 homes were destroyed. high winds are keeping firefighters from maintaining the fire -- containing the fire. in next week's summit, they will bailout theresa may. there is little appetite to make any concessions to help may. your -- european leaders have

world with taylor riggs. taylor: president trump is expected to not abandoned the iran nuclear deal. the president will refuse to certify that the courts officially serve u.s. interests. he is expected to ask congress to amend the law. the president said it is time for the entire world in demanding that iran world and its pursuit into and destruction. the most drastic steps yet are taken to end obamacare. president trump has cut out subsidies to help lower income people after he signed an...

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taylorriggs. taylor: thecommunist party has elevated president xi jinping to the same status as president mao. the party approved a revised proposition. he is the first sitting leader sense mao to be named in the document, giving him more powers to enact policies after a crucial reshuffle tomorrow. in the u.k. prime minister undera may's cabinet is pressure to agree on the kind of trade deal britain wants. business leaders want an agreement that would allow trade as usual for two years as usual. may has signaled there will not be a swift transition deal. america's top generals have signaled it could take weeks to find out what really happened in niger. joseph dunford said the u.s. control did not expect contact with the enemy. four americans were killed in that fight. the conviction of former hsbc executive is likely to echoes through the $5 trillion foreign-exchange market. a jury in new york found mark johnson guilty of fraud, a victory for u.s. prosecutors in their first attempt to hold individuals accountable in the currency rigging probe. global news 24 hours a day, powered

taylor riggs. taylor: the communist party has elevated president xi jinping to the same status as president mao. the party approved a revised proposition. he is the first sitting leader sense mao to be named in the document, giving him more powers to enact policies after a crucial reshuffle tomorrow. in the u.k. prime minister undera may's cabinet is pressure to agree on the kind of trade deal britain wants. business leaders want an agreement that would allow trade as usual for two years as...

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taylorriggs. +++the competitors that will start to feel some of this pressure. incumbents will start to feel some of that heat. you are now seeing 3-d down the most since june of 2016. bad news for one is good news for another. hp up more than 7%. here is what it comes down to. two new 3-d printers coming out in 2018. one is a metal platform. the head of the hp printing business says that is a major step for them in reaching their goal. the number two and is a full-color 3-d printer. be theent says they will only one offering this type of mechanically robust and fully functional printer. vonnie: who us decides 3-d systems might feel the presence? taylor: there were two main competitors. looks like stratus is lower. re.tly lower the all should be concerned. shery: thank you so much for that. vonnie: major u.s. bank earnings continue to roll in today. we heard from bank of america and wells fargo. bank of america beating profit estimates. that was enough to overcome falling revenue from bond trading. profits and wells fargo felt 18% -- feel by 18%. joining us to rep. dent: is jason gol

taylor riggs. +++ the competitors that will start to feel some of this pressure. incumbents will start to feel some of that heat. you are now seeing 3-d down the most since june of 2016. bad news for one is good news for another. hp up more than 7%. here is what it comes down to. two new 3-d printers coming out in 2018. one is a metal platform. the head of the hp printing business says that is a major step for them in reaching their goal. the number two and is a full-color 3-d printer. be...

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withtaylorriggs. telecopresident trump has taken is most drastic step yet to roll back obamacare. a cutoff necessity to ensures to help lowcut -- to income people. meanwhile demonstration is cutting tens of millions of dollars that help people in role in obamacare. the president of mexico and canada are presenting a united front in talks with trump. president trump suggested that north american free-trade agreement could be broken into two bilateral deals. trudeau and pinion yet to says the deal -- it is another sign that chinese trade is holding up . exports are up more than 8% in september, slightly less than expected. projects its worldwide oil glut will be gone a year from now. the cartel expects its effort to get rid of the surplus to be successful by the third quarter in 2018. estimates suggest they will be successful. i am taylor riggs, this is bloomberg. i whatanks so much what to do is drive the competition forward in international economics. we do these at the meetings and we do it with catherine mann. now joining us, a gentleman who watched can burned vietnam a little bit

with taylor riggs. teleco president trump has taken is most drastic step yet to roll back obamacare. a cutoff necessity to ensures to help lowcut -- to income people. meanwhile demonstration is cutting tens of millions of dollars that help people in role in obamacare. the president of mexico and canada are presenting a united front in talks with trump. president trump suggested that north american free-trade agreement could be broken into two bilateral deals. trudeau and pinion yet to says the...

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not live to forecast. joining us nowistaylorriggs. therehas been a lot of concern about the iphone x. we are reading a lot of tea taylor: they will see the revenue in the fourth order. then, they provide some of three sensors. the ceo said they launched a global platform by a leading smartphone manufacturer. we know that is apple. they get 20% of revenue from apple. analysts said the third order took a hit from that. we have a chart of revenue. it was weaker than expected. itrth order guidance smashed out of the park. the jump was 200% in that quarter year-over-year. mark: is everyone going to benefit rum this? -- from this? taylor: they were looking at some of the other momentum's. higher again.ere these are just misguided and the apple food chain is going to be fine. some shares are gaining. amf is outperforming today. much for theyou so timing conundrum. the: let's look at some of business stories in the news. barclays is looking at some risky business. the british bank may push into debt trading. they are dealing in complex credit products. they are encouraging the bank to take

not live to forecast. joining us now is taylor riggs. there has been a lot of concern about the iphone x. we are reading a lot of tea taylor: they will see the revenue in the fourth order. then, they provide some of three sensors. the ceo said they launched a global platform by a leading smartphone manufacturer. we know that is apple. they get 20% of revenue from apple. analysts said the third order took a hit from that. we have a chart of revenue. it was weaker than expected. itrth order...

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startwithtaylorriggsinnew york. >> btv 11 is my chart. market crash october 19, 1987. in blue, the run-up to the crash. in white, the run up in the s&p today. take a look at this big drop. could we see this drop again? spoke this morning with one analyst who said we have learned a lot and a lot has changed. there is no big systematic markets, no big distortions in the markets, so some perspective when we look into the crisis. got?e: what have you party all-important china congress. we got comments over the weekend saying chinese companies had taken on too much debt. the debtt shows you breakdown as a percentage of gdp. the white bar is corporate debt at 158% of gdp. it really highlighted the concerns. there are other charts in the charty, btv 624 is my showing china's growing debt problem. onnie: two important charts an extraordinary week historically and currently. you girls are tied today. is talking about iran, saying the termination is a real possibility. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-com

start with taylor riggs in new york. >> btv 11 is my chart. market crash october 19, 1987. in blue, the run-up to the crash. in white, the run up in the s&p today. take a look at this big drop. could we see this drop again? spoke this morning with one analyst who said we have learned a lot and a lot has changed. there is no big systematic markets, no big distortions in the markets, so some perspective when we look into the crisis. got?e: what have you party all-important china...

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mattering to the electorate right now, anyway. beautifulchart.taylorriggs, it'snow your turn. taylor: the dow jones industrial average in the u.s. on friday, record highs. 53 record highs so far this year. you have to go back to 1995 when there were 70 record highs to get this level. are we overbought or oversold? we use this index, below 30 oversold, above 70, overbought. you have to go back 62 years to get that overbought condition. what does that mean? a chief market analyst says, never short a high when the rsi is in this sort of trending market. that said, when you get to these goods -- market markets could take a breather. vonnie: can i say they are both excellent? i'm having trouble today. i was admiring mark's on a roll. getting a little peckish toward lunchtime here. it looks like a sushi roll. it's a ridiculous reason. mark barton wins today. mark: thank you very much, vonnie. take a quick peek at what happened to european equities today. we rose for the third day in four. i will leave you with this chart. this is bloomberg. ♪ noon in new york, 5:00 p.m. in london

mattering to the electorate right now, anyway. beautiful chart. taylor riggs, it's now your turn. taylor: the dow jones industrial average in the u.s. on friday, record highs. 53 record highs so far this year. you have to go back to 1995 when there were 70 record highs to get this level. are we overbought or oversold? we use this index, below 30 oversold, above 70, overbought. you have to go back 62 years to get that overbought condition. what does that mean? a chief market analyst says, never...

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morning. joining usistaylorriggs. howthat was it? two key things he mentioned are the miss of the top line. $3.4tations were more than billion. quarterly, it was the slowest quarter of growth. the second quarter of 2009. out to 2020 and the net product sales are going to be falling down from $19 billion to $20 billion. the adjusted earnings. one key driver i want to look at its tesla. it is the third in terms of sales but came $100 million short of estimates. that was the key driver for what they had to lower that long-term forecast. analysts say they are concerned about confidence since management missed that credit is so much. that is one of the key ones we are looking at. david: let's look at what it has him to the sector as a whole. see the massive elgeneformance of calg going back a year. you can see other stops dragging it down this week. getting ahead on multiple fronts. david: appreciate it. davis. us is chip let us talk probably about generic drugs. theravance a much conversation about drug pricing. where does it stand now and where does it would likely to go? chip: we repres

morning. joining us is taylor riggs. how that was it? two key things he mentioned are the miss of the top line. $3.4tations were more than billion. quarterly, it was the slowest quarter of growth. the second quarter of 2009. out to 2020 and the net product sales are going to be falling down from $19 billion to $20 billion. the adjusted earnings. one key driver i want to look at its tesla. it is the third in terms of sales but came $100 million short of estimates. that was the key driver for...

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.taylorriggs, ourstock of the hour. well, hollywood mow gull harvey weinstein was fired sunday after allegations of sexual harassment. the board of directors commented in a public statement saying, quote, in light of new information of misconduct by harvey weinstein in the next few days, the directors of the weinstein company have determined and informed weinstein that his employment is terminated effective immediately. it was a one sentence albeit a long sentence statement and it culminated swift fall for the longtime movie mow gull behind some fantastic movies. joining us now from los angeles with more on the story is bloomberg's creighton harrison. creighton, this obviously was coming but according to -- according to a deadline, three board members also resigned friday. did the board members have to go, you know, was this is a case of bad timing? creighton: well, i think the board members, they all sort of quit in succession after the big expo say in the times last week -- expose in "the times" last week. this wasn't a place they wanted to be. the board members said weinstein was

. taylor riggs, our stock of the hour. well, hollywood mow gull harvey weinstein was fired sunday after allegations of sexual harassment. the board of directors commented in a public statement saying, quote, in light of new information of misconduct by harvey weinstein in the next few days, the directors of the weinstein company have determined and informed weinstein that his employment is terminated effective immediately. it was a one sentence albeit a long sentence statement and it culminated...

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tradingwithtaylorriggs. wewere having some technicaldifficulties.taylor: wewill blame it on record highs. let's take a look at the dow of almost 200 points, 20%, a record on the dow on friday was at 23. by 2575, nonetheless of broad-based again. the nasdaq up about .3%. let's talk about that. if you things i want to mention. .mazon is not -- is aup. apple is rushing that off. are getting an update from jpmorgan, 1180 is a number we're looking at for here. come into my terminal. #btv 10. you are seeing an uptick here, about .8% on some of these things. days ofr five straight the biggest losses we've seen so far this year. a lot of the things are making full recoveries as we head into earnings on thursday. julia: let's move on. ofs week, no shortage catalysts for investors. tax reform, president donald trump spoke about the impending legislation. president trump: tax cuts will restore america's competitive edge and lower the crushing tax burden on the american people. it's also going to bring back -- when we get this past, which are really believe we will. i wouldng to bring back say

trading with taylor riggs. we were having some technical difficulties. taylor: we will blame it on record highs. let's take a look at the dow of almost 200 points, 20%, a record on the dow on friday was at 23. by 2575, nonetheless of broad-based again. the nasdaq up about .3%. let's talk about that. if you things i want to mention. .mazon is not -- is aup. apple is rushing that off. are getting an update from jpmorgan, 1180 is a number we're looking at for here. come into my terminal. #btv 10....

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taylorriggs. jonathan:thank you very much. investigators bracing for a week full of market-moving news on deck. an announcement from president trump on who he has picked to lead the federal reserve. fromterest rate prediction the fomc. potentially, charges in the mueller russia probe. york is michael mckee. if i could offer you the outcome of any of those events happening in the next four days, which would you pick. >> i think the one thing we are most focused on is the fed. who leads the fed? what impact will that have on global monetary policy? i would go for the continuity candidate, janet yellen, but that does not look like what is going to happen the next time around. whoever leads the fed, i'm pretty confident they will get the right pick. jonathan: michael , we have these binary outcomestwo -- michael, we have these two binary outcomes. oris either john taylor jerome powell? michael: there are some of the possibilities out there and donald trump is such an unpredictable person that it could be janet yellen at the last minute. it is probably going to be powell. thursday woul

taylor riggs. jonathan: thank you very much. investigators bracing for a week full of market-moving news on deck. an announcement from president trump on who he has picked to lead the federal reserve. fromterest rate prediction the fomc. potentially, charges in the mueller russia probe. york is michael mckee. if i could offer you the outcome of any of those events happening in the next four days, which would you pick. >> i think the one thing we are most focused on is the fed. who leads...

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time.taylorbreaks--taylorriggsishere with us now. >> you mentioned it. it is all about the nasdaq and nasdaq 100. you we are also seeing record highs on the s&p 500. we do not want to count that out just yet. made one 25-75 level we friday. the nasdaq up more than 2%, the nasdaq 100 up almost 3%. amazon, microsoft, facebook, google, apple -- all the names we know that are driving it higher. let's dig into a few of these. i want to focus on microsoft and amazon. microsoft serving to a record after a quarter beat on revenue. dumping -- jumping by double-digit. about the pivot to cloud computing and ai. similar with amazon. double-digit revenue, 34% in this quarter. a smooth transition with that whole foods business. like scarlet said, going into some of the pharmaceuticals, getting a license there in 12 states. we are watching that. let's put this into perspective here. we have been talking a lot about techech sectors -- sector's outperformance. it is outperforming by about 15% here next to the number two, the health care index. spreads there are certainly widening today as t

time. taylor breaks -- taylor riggs is here with us now. >> you mentioned it. it is all about the nasdaq and nasdaq 100. you we are also seeing record highs on the s&p 500. we do not want to count that out just yet. made one 25-75 level we friday. the nasdaq up more than 2%, the nasdaq 100 up almost 3%. amazon, microsoft, facebook, google, apple -- all the names we know that are driving it higher. let's dig into a few of these. i want to focus on microsoft and amazon. microsoft...

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countries. iamtaylorriggs. thisis bloomberg. david: seven months into lateste bank's turnaround plan and shareholders are getting restless. three of the largest are said to be losing faith in the chief executive, saying he may have cut costs, but hasn't delivered on his pledge to grow revenue which declined in all but two quarters since he took over. joining us is bloomberg's eliza martin. why now? >> i think it's clear from the outset of his announcement in march that there wouldn't be much time for him to show he could deliver on this plan. deutsche bank has been grappling with very serious challenges for several years now and i think right from the world go, -- the word go, investors were clear they would see the pan from -- the plan for modest growth and we haven't seen that. david: he has done an effective job cutting cost and reserves are up and it must -- in much stronger shape. is it possible the same person that does cutting and reserve growing is not the same person to grow the bank? >> they are saying he is very much the fireman and he may not be the best to rebuild. having sa

countries. i am taylor riggs. this is bloomberg. david: seven months into lateste bank's turnaround plan and shareholders are getting restless. three of the largest are said to be losing faith in the chief executive, saying he may have cut costs, but hasn't delivered on his pledge to grow revenue which declined in all but two quarters since he took over. joining us is bloomberg's eliza martin. why now? >> i think it's clear from the outset of his announcement in march that there wouldn't...